Called ‘Bill Protection’ and created in partnership with insurtech Qover, the policy covers the payment of regular bills and outgoings up to GBP 600 (with higher limits for Monese’s Classic and Premium plans) if customers have an accident, are sick or lose their job.
The Essentials plan also features slight improvements on Monese’s free Starter plan, including a 2% fee on international transfers (down from 2.5%), 0.5% fee on FX (down from 2%) and a GBP 200 monthly ATM withdrawal limit.
For its more expensive plans, along with Bill Protection, Monese is also adding purchase protection to its Classic and Premium plans which covers theft and damage to recent purchases, including smartphones.
All Monese’s paid plans also now include daily payments for hospital stays, of between GBP 15– GBP 50/day for up to 30 days.
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